A two$-$year project has an initial requirement of $$500,000$ for fixed assets and $$100,000$ for net working capital. The fixed assets will be depreciated using MACRS and the fixed asset falls into the three$-$year MACRS class. Depreciation rates for years $1$ and $2$ are $0\mathrm{.}3333$ and $0\mathrm{.}4445.$ The estimated salvage value is $$120,000.$ All of the net working capital will be recouped at the end of the $2$ years. Management estimates that sales revenues less costs will be $$700,000$ per year for years $1$ and $2.$ The discount rate is $9$ percent and tax rate is $35$ percent. What is the initial investment for this project?

$$ $$513,327\mathrm{.}50$

$$600,000$

$$1,300,000$

$$500,000$